Highlights of Union Budget for 2015-16

Highlights of Union Budget for 2015-16

 

Budget 2015-16 Highlights:

• GDP growth to be 8-8.5% in 2015-16
• Embarked on GST and JAM Trinity to use bank accounts, Aadhar and Mobile number to transfer government benefits
• Current account deficit below 1.3 percent of GDP
• Aiming for double digit growth rate, achievable soon
• Expects consumer inflation to remain close to 5 percent by March, opening room for more monetary policy easing
• Expects to implement goods and services tax by April 2016
• We will move to amend the RBI Act this year to form Monetary Policy Committee: Jaitley
• 50 lakh toilets constructed in 2014-15; on the way to achieve target of 6 crore toilets
• Coal bearing states will get several lakhs of crores of rupees as royalty following transparent auction process 
• FM Jaitley says outlook for India positive, reiterates partnership with states
• India is set for a faster growth trajectory
• Real GDP growth to jump to 7.4%, making India the largest growing economy in the world
• The govt wants to improve quality of life and to pass benefits to common man
• GST will put in place a state of art taxation system
• The rupee has become stronger by 6.4% 
• People of India have voted for quick change, faster growth, stable economy, we have lived up to their trust
• The credibility of Indian economy has been re-established
• Jan Dhana Yojana makes our aim of financial inclusion visible
• Three achievements of government: Success of Jan Dhan Yojana, coal auctions, Swach Bharat
• We inherited a sentiment of doom and gloom and the investor community had almost written us off
• World says it’s India’s chance to fly
• We are a round the clock, round the year government
• Govt has embraced states as equal partners in growth: FM

Source: http://www.taxdost.com/